This economic policy note examines the disparity in per capita incomes of both backward and advanced regions in developing countries, and explores a number of possible causes and policy intervention to bring about equalization (convergence). Among the causal factors discussed are transportation...

Economists have long known that time scale matters in that the structure of decisions as to the relevant time horizon, degree of time aggregation,strength of relationship, and even the relevant variables differ by time scale. Unfortunately, until recently it was difficult to decompose economic...